Can HSA Rollover? Understanding the Basics of Health Savings Account Rollover

One common question many individuals have about Health Savings Accounts (HSA) is whether they can rollover their funds. The good news is, yes, you can rollover your HSA funds!

When it comes to HSA rollovers, there are specific rules and guidelines to keep in mind. Here's a breakdown of how HSA rollovers work:

• HSA funds can be rolled over from year to year, unlike Flexible Spending Accounts (FSA) which have a 'use it or lose it' rule.
• Any funds remaining in your HSA at the end of the year automatically rollover to the next year.
• You can also rollover your HSA funds when changing jobs or switching to a different health insurance plan.
• There is no limit to how much you can rollover in your HSA each year, making it a flexible and long-term savings option for healthcare expenses.

It's important to note that HSA rollovers do not count towards your annual contribution limit set by the IRS. This means you can rollover funds in addition to making regular contributions to your HSA.

By understanding the basics of HSA rollovers, you can effectively maximize the benefits of your health savings account while ensuring you have funds available for future medical expenses.

Absolutely! One great feature of Health Savings Accounts (HSA) is the ability to rollover your funds year after year. This means you won't lose any of your hard-earned savings if you don't use them by the end of the year.